Allocates $7.5 million annually of constitutionally dedicated CBT revenue for preservation of land in Highlands Region.

This bill would allocate $7.5 million annually from constitutionally dedicated Corporation Business Tax (CBT) revenue to preserve land in New Jersey's Highlands Region. It redirects $5 million from the existing Green Acres program (for recreation and conservation) and $2.5 million from the Farmland Preservation program into a new Highlands Preservation Fund managed by the Highlands Water Protection and Planning Council. The fund will be used to acquire land for recreation, conservation, and farmland preservation through fee simple purchases, conservation easements, and development rights. The bill specifies that funds can't be used for contaminated land or land already preserved, and prioritizes areas identified in the Highlands regional master plan.